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're in a recreational type of environment because that's sometimes the first thing that people consider when they're evaluating their finances and what am i going to spend my money on. >> the fear that we're going to have, we're going to lose our customers and our shoppers and we've been here for ten years. >> a rough few years since the recession. now she says she's terrified we're on the verge of tumbling back in. >> the effects of them not coming up with a plan is going to be devastating and i see a huge, a bigger recession. >> reporter: the prospect of higher taxes next year means she's cutting back now. trimming staff for january and february, only buying clothing she's sure will sell. her goal, just to keep her business afloat. >> my biggest fear is that my 7-year-old will never really get a chance to see what i've built. >> reporter: back at the climbing center, lilia said there are lessons that washington negotiators can stand to learn. >> it doesn't mean that you're locked into that move, it doesn't mean you can't try something else. >> reporter: fiscal cliff hanging shouldn't be an opti
've got a very positive environment given all the other good things that have been said over and above that, that if we go over the cliff, if there's a real possibility, then we'll see consumer incomes go down and like i said earnings expectations are likely to be revised lower, so what do we like fundamentally? >> pretty defensive areas in many cases there? >> i would say that -- >> thank you. we've got to go, guys. thank you for your thoughts and ideas today on our beloved fiscal cliff. >> five days to go and counting before we fall off the so-called fiscal cliff and while there's no deal, more news out of washington and our very own john harwood is there. >> reporter: mandy, we've got a letter from the republican leadership to the president and to the democrats in the senate saying that the house has acted, they passed legislation last year to extend all the tax cuts and to shift the scheduled sequester cuts from defense to domestic programs, but, of course, in urging the senate to act saying, well, we've acted, now it's your turn, we're simply not going to see the democrats take th
and if they bring it back they're getting whacked with tax code. we need friendly tax environment for corporations to spend the $1.2 trillion they're sitting on. gregg: if we go over the cliff that is not tax friendly. matt mccall, president of pns financial group. good to see you, matt. heather: we're seeing a bright spot in the u.s. economy. qord according to national association of realtors sales of new home were highest since april of 2010. a homebuyer tax credit caused then a spike in sales. it measures the number of americans who signed contracts to buy homes. the report also points to higher sales of previously occupied homes in the coming months. gregg: former president george h.w. bush remains in a houston hospital where he continues to recover from a persistent fever and a cough. a family spokesman just giving us some, a new details, an update on his condition. mike tobin is live outside methodist hospital with the latest. mike? >> reporter: the latest, gregg, the latest release we got included the phrase, continues to improve in relation to the former president's condition. the staff ar
. but that is typically not the mentality. >> the opportunity to play on the road, a tough environment -- these teams go at it pretty good every single time. that is something to help us build up our calluses a little before the playoffs. there will be a big plus for us. >> the big difference for the ravens last week was on offense. baltimore, two running backs still over the 100 yard mark. they said the most important thing that was better -- the offensive line. a huge bounce the game. it all added up hutu dominance. >> east -- it all at a double -- it all added up to dominance. >> joe also scrambled and made some plays, which was really positive. the run blocking was good. we watched for a lot of yards. those guys were really physical. the offense continues to improve, even though it is a young group. >> a big day for the n.b.a. as the season passes. the biggest among them -- a rematch of the finals from a year ago, the heat hosting the thunder. a matchup of first place teams on christmas day. a king james christmas. mario chalmers fines james -- jinds -- finds james. westbrook not happy. the teams h
to protect themselves. you're absolutely right. when somebody crazed is going into an environment where absolutely nobody, nobody has a firearm, has no way of protecting themselves. it'sorrible. >> listen, you're talking about a situation that happened that doesn't happen that often. and even when we're talking about school situations, that, you know, that happen -- when they do happen they become news and it's multiple people at a time. 10s. we saw this, 26 people at one time. that's what people are trying to prevent. for you to say -- >> don, i'm saying the same thing happened at virginia tech. >> stand by. please, stop talking. a very good conversation. we need to continue. i will go to break when it's time to go to break. go ahead. >> my point is, somebody who's intent on doing harm, whether they have a long gun, like an ar-15 or semiautomatic pistol, be it a glock, smith & wesson, all guns capable of hitting multiple targets, and when the people that -- that the shooter is shooting at have no way of defending themselves, it -- it doesn't matter which firearm you're using. >> it doe
're absolutely right. when somebody crazed is going into an environment where absolutely nobody, nobody has a firearm, has no way of protecting themselves. it's horrible. >> listen, you're talking about a situation that happened that doesn't happen that often. and even when we're talking about school situations, that, you know, that happen -- when they do happen they become news and it's multiple people at a time. s 10s. we saw this, 26 people at one time. that's what people are trying to prevent. >> don, i'm saying the same thing happened at virginia tech. >> stand by. please, stop talking. a very good conversation. we need to continue. i will go to break when it's time to go to break. go ahead. >> my point is, somebody who's intent on doing harm, whether they have a long gun, like an ar-15 or semiautomatic pistol, be it a glock, smith & wesson, all guns capable of hitting multiple targets, and when the people that -- that the shooter is shooting at have no way of defending themselves, it -- it doesn't matter which firearm you're yusing. >> it does matter what firearm they're using, especi
down dramatically. and we've let our business environment get less and less efficient. we've let the cost of doing business rise up. we've got -- we're losing many, many more investment decisions and business activities to other countries than we're getting back. and yet, the political debate including the one we're having this morning is really not about the really important things. it's not about skills. it's not about the fundamental structure of reforms we need to make in our budget, our tax system. we're kind of -- we've gotten ourselves into a kind of a short-term day-to-day dialogue. we're not really addressing the real issues. >> a couple things going back to jpmorgan. first of all, we learned time and time that no man, no human being is smarter than the markets. not anybody. that's number one. and number two, with regard to the banks and the size of the bank, we got rid of glass steegle which allowed investment banking to combine with commercial banking because we needed to be big to complete globally. what has it brought us? i would say not so much. is it really true th
in today's challenging environment. unless you have the right perspective. bny mellon wealth management has the vision and experience to look beyond the obvious. we'll uncover opportunities, find hidden risk, and make success a reality. bny mellon wealth management why let constipation stry miralax.? mirlax worksdifferently than other laxatives. it dws water into your colon to unblock your system naturally. don't wait to fe great. miralax. >> live from america's news headquarters, i'm kelly wright. an american marine is back on u.s. soil after being released from one of mexico's most dangerous prisons, a judge release saying john hammar late last night. this is a picture of him shackled to a bed. arrested back in august when he tried to drive across the mexican border with an antique gun that his family says was an heirloom. and the pain still unbearable in newtown, connecticut. three more victims of friday's deadly school shooting massacre are being laid to rest today. emilie parker, josephine gay and ana mari mar kwez-greene. i'm kelly wright, back to bulls and bear, for the all the late
into these homes. thing that's make the environment much more manageable for someone who is going to have that challenge for their lives they're providing us an opportunity in our lives to get us back. >> michael lost both arms and burned over 85% of his body. a convoy ran over a roadside bomb he found out difficulties trying to get thinged staffed and stuff so. they decided to build a
economic environment, unfortunately. >> a wealth manager says need to austerity speculation before making big purchases. look at the money you have and the money you need and decide if you really need that next big purchase. harris? >> harris: the upside is to get your values in order, it sounds like. molly, good to see you, thank you. >> good to see you. some new signs the housing market might be bouncing back. home prices for the month of october are up in more than a dozen cities compared with last year. analysts say the higher prices are recovering even as it moves into the quieter sales period. home construction dropped a bit from october. it was still higher than it was last november. experts say builders are on track to start working on the most homes in four years, which could help create more construction jobs. well, from the supreme court battle over president obama's healthcare overhaul to the deadly meningitis and west nile outbreaks. 2012 was a very busy year in health news. dr. manny alvarez from the fox news medical a team has a recap. >> 2012 tense year at the intersection
. they're out in the street. if they come here, it's a real nice environment for them. >> everybody get into the ring. we'll have the wrap session. >> this week ip to talk about unity. in this gym we are a community. >> we not only do boxing but youth development. when you walk in the door, weert not only teaching you boxing. we're also teaching you that you have to go to school. we have three or four tutors that are trying to get these kids' grades up. i used to have average like b, cs. now i get as and bs. i joined boxing to stay away from the streets and to get my life together. it literally saved my life boxing. i want these kids to go to college for the next generation. it could be more powerful in life. we're more than just tough. we're also smart. i want to become a champion, and i want to show people that this neighborhood is not only about violence. that there's people in here in the neighborhood that are determined to become somebody in life. p if i help two, three kids a year, that's already a difference. just like boxing saved me, i'm trying to save others. >> we're giving i
there ♪ ♪ hey ♪ it's hard to see opportunity in today's challenging environment. unless you have the right perspective. bny mellon wealth management has the vision and experience to look beyond the obvious. we'll uncover opportunities, find hidden risk, and make success a reality. bny mellon wealth management ♪ >> welcome back, time for news by the numbers. 22,000 how many job applications delta received for just 300 flight attendants jobs. officials say they received two applications every minute after posting the position online. bye-bye. 48 years how long they thought they were married before they found out the marriage was never legal. they just made the marriage legal after the license was never turned in after their wedding. i wonder whose fault that was, left it on the mantle. finally, 100 the number of cities vying for the best city for men, ratio men to women and other factors and accord to go men's health, raleigh north carolina is the winner, so, single men go down there. kelly. >> kelly: i used to live in raleigh. more and more kids are smoking pot than ever before and a ne
shouldn't rush to put forth a bad bill. i don't believe adding more guns to the environment is a solution. i do believe that cities need to have additional, red-made plans that are sensitive to responding to schools rapidly. >> what did you do in atlanta once this happened? >> that's the charge that i made to my police chief and we're developing plans in the city of atlanta to respond faster to our local schools in the event that there is an emergency. we are looking at the best in practice standards and we're doing what mayors across america is doing and making sure that we have a plan to move quicker and that we have direct contact with our schools. >> kasim reed, my hometown. i appreciate your time today. >> all right. you come back home one day. >> i will. >>> john kerry to replace hillary claihil hillary clinton as secretary of state. i will talk to bill richardson. plus the gun industry by the numbers and some eye-popping statistics when it comes to firearms and the companies that make them. a little later this hour. how an early morning visitor and a letter brought the king of rock
smart things into the home. making the environment much more manageable for somebody who is going to have that challenge the rest of their lives. >> they're providing us now an opportunity in our lives to get some inpendency back. >> his convoy rode over a roadside bomb in iraq. >> and to him, it
with other guests as well, that talked about the merger and acquisition environment. it is a glaring lack of activity. i don't want to make too much of it, take a look. you can see how they've done this year. in line with 2010. up ever so slightly from 2011. remember, we have record low borrowing rates in the high yield market, not to mention from banks as well. leverage ratios have crept up, so you can get debt that equals 5.5, or 6, or even more times the company you're acquiring. all of that would argue for more activity on the part of the leverage buyers. we've had jim woolery at jpmorgan saying, yeah, i can cut you a $10 million check. we haven't seen the big deals. one reason, simply put, flow begets flow. when there's a lot of activity, you get even more. there is a company looking to be shed of this business, or achoirs another business, they may look to shed another business as well. that might be an audience that private equity is part of. when you aren't having that level of activity, you may not get even more from the lbo. but something we've run up against lately does seem to
in case they want to find a low security environment in which to go and steal weapons. new york has a problem with terrorist cells. so we also know which houses don't have guns. this is a severe danger to the community that this newspaper has brought about. >> gretchen: like i'm thinking, let's say now that somebody goes to rob one of these homes that they know they don't have guns, let's say something horrible happens, do those homeowners then have a lawsuit against the newspaper? >> you know, i don't necessarily think so. but i do think it would be smart for the homeowners and the gun owners to give notice to the newspaper that they fear for their security and their safety, that of their families and they would ask their -- the names and addresses be unpublished for purposes of safety. that's the minimum they can do at this point and ask for a written response from the newspaper. >> gretchen: very interesting. let's read the statement. this is from the journal news, the newspaper. the massacre in newtown, connecticut remains top of mind for many of our readers. our readers are und
tournament is housed in warren county. what we trio do is foster environment where people and businesses want to come to warren county. so we actually have the lowest marginal tax rates of the surrounding counties and we try taphouse there are environment to where we know we can only do so much in government. so essentially we don't try to do all things to all people. so in a lot of ways we say no more than we say yes, which i think is one of the keys in government is not just thinking about your own political vested interest, 'cause it's easy to make friends in politics by saying yes to everybody. if you think a checkbook is not really yours or the taxpayers, it's someone else's and you can pass out money like it's candy, everybody in the world is going to love you. but when you sit around and look somebody in the eye and say no, they tend not to like you. we've got the ability to do that inside of warren county. >> eric: a lot of municipals are having a hard time because of unions. how is your union contract? have you renegotiated any of those? or are those that were put in place years ago
tax environment. for instance, i don't think an investor would say, i'm going to shun higher dividend stocks, because now my tax rate is up. unfortunately, it will be higher, but you still will pursue dividend stocks. >> got it. peter. thank you. happy new year to you. peter anderson of asset management. >>> still ahead, the head of the campaign to fix the debt joins us live. what needs to happen so we can get a deal done and can it done at this meeting the today? also ahead, we're live from the port area of bay young, new jersey, with an update on a possible strike that could affect businesses from texas to massachusetts. also got the houston mayor to tell us how her city is preparing for a strike. futures still a little jittery here this morning. dow down 86. "squawk on the street" back in a minute. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. mine was earned off vietnam in 1968. over the
in this environment here now is mary, managing director with merchant forecast. you are a secret shopper, right? do i understand that correctly? >> come on. we have a team across america and the team is comprised of retail professionals. and they -- monitor stores across -- >> shop for a live. >> they shop for a living. it is a tough life. yes. they -- answer questions for us and compile the data and we publish our reports. >> the numbers that came out today were disappointing. we have now seen retail stocks fall for three days in a row because this holiday season is looking bad. is it that bad? >> it was going into last friday. and -- again, we cover the mall. going into last friday, everybody was panicked. because they weren't seeing the kind of retail -- >> retailers were panic. >> yes. those days before christmas, it spurred up. whether it pulls out the month is another store write. it looks promising for particular retailers. we have some -- we have some bright spots out there. cosmetics is great. we love ulta. lululemon setting the trend for all of that. >> two of my faves so par. >> costume je
, can you say climate change? not if you're studying the environment in virginia. that and other silly laws in the "sideshow." this is a great "sideshow" coming up. this is "hardball," the place for politics. [ laughter ] smoke? nah, i'm good. ♪ [ male announcer ] every time you say no to a cigarette, you celebrate a little win. nicoderm cq, the patch with time release smart control technology that acts fast and helps control cravings all day long. ♪ quit one day at a time with nicoderm cq. >>> back to "hardball." now to the "sideshow." a good one i said. first, the right way to legisla legislate. think progress is out with a round of some of the most out there legislative moves we saw from the republicans side this past year. some "hardball" favorites from the list. first, how about banning the terms climate change and sea level rise from a request to study the causes of coastal flooding? that's exactly what happened in virginia in the republican-led legislature. the study could not get approval for funding until "left wing term" were yanked from the proposal like climate change a
on the unemployed. let's just kick them off unemployment insurance in an economic environment where we've historically never done that before. then let's see what happens. but, you know, what, it's actually even worse than that. what makes this a real punch to the gut is that what washington is now threatening to do, what they are just four days away from actually doing is taking away the extended unemployment insurance from those who have been unemployed the longest, and at the same time, by going over the fiscal cliff, bringing the recovery to a screeching halt, people argue over how bad it would be to go over the cliff, but everyone agrees, it would be bad. and if we go over for long enough, it will create a new recession. so now you don't have a job and you don't have unemployment insurance. you've been looking for a long time. and good luck finding a new job, because we just crashed the economy. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. we're now at the last minute. and the american people are no
and into treatment. we're not doing this in this country. >> has the environment changed, mr. lapierre? the supreme court has confirmed gun owner rights in this country, mayor bloomberg was on the program last week saying you tried to get the president not to be reelected, you failed in this effort. he says you don't have the clout that you had politicly in this town in past debates. >> the american people, i know one thing about them, they value their freedom. when the reality of the consequences of what the politicians in this town and the media and elites want to do to their rights and take them away, i think they'll do what they've done historically, defend the freedom. the american public knows the scene of the crime, it's a criminal and a victim. all these politicians and people like mayor bloomberg, new york city, if you're rich and you're famous, you get your permit, if you're a .300 hitter with the mets, you get a permit, a big developer, you get a permit, wall street executive, you get a permit, the mayor's buddy, you get your permit. if you're a guy in the bronx, most in need of protecti
dividends. they are up close to 14%, and this type of environment, where you're probably going to see another 3% to 5% selloff because of this fiscal announce, fiscal irritation, and when you get that, you should take that money and put it to work. simply because when you look at corporate america, the average company, bill, is generating a 16% to 17% return on equity, record free cash margins and a federal reserve that has the pedal to the metal. what you and i have talked about before repeatedly, $4 in taxes for every dollar in phantom spending cuts. that's fiscal irritation, but the health of corporate america will be what ultimately prevails. >> sounds like david has been reading your book, rick santelli. >> it does. >> big fan of rick. >> this is such a perverse world we live in, okay. let's look as what's happening. down 158 in stocks and that pushed the ten-year yield under 170, okay. >> really. let me get this straight. they can't get a deal on controlling out-of-control debt, so rates go down. i used to trade during graham/rudman and i remember when they couldn't get deficit
environments to really play havoc with it towards the end of the year, and i think a lot of political capital will be spent on what's at hand right now obviously with the fiscal cliff, and obviously what we do with 2013, i don't think that you're going to see a lot of regulation questioned, asked during 2013. >> okay. >> i think this one is one stock that will benefit. you'll see the analysts start to upgrade it. >> that being b of a. >> wait until the dow goes higher on your list for 2013. >> we don't do anything with respect to the theories of the dogs of the dow, but the generic sense of buying laggards for future outperformers is a broad one. higher growth names outperforming versus last year which was more defensive. what you do is look at the real laggards, hp and intel come to mind real quickly. >> right. >> they are down low for very good reasons. they are reason to be the desk top computing is definitely under siege with more mobile computing. the management issues with hp. all of those things need to be ironed out and as a result the stocks have underperformed. >> are you saying you
, dividend paying stocks in this environment, will, i think, be -- >> even with the, you know, our previous segment was talking about potential for big tax hikes on dividends. even with that, you'll still be going for dividend stocks? >> i think so. i heard that segment and i think we will be get an increase but we won't get that full effect going to the maximum tax rates. >> right. we can only hope there. >> looking in that 20% range. >> chad, what are your expectations? >> well, i think you're going to go over the cliff, but you're going to get a mini bargain. any market dislocation you have over the next 15 trading days, i'd be a buyer. in the long run, we have the economy that's improving, stall speed, but that will gradually increase over the course of the year. once you have some more certainty. so, you'll get some capital spending, you'll get retail investors that will be a little bit more optimistic as well as institutional inves or thes will start to click and up their equity allocation. >> where does 2013 end up for the market? >> i'm looking very positive. i'm bullish in premise
. >>? >> you got it, michelle. we're operating in an environment where, quote, uncertainty is the new normal. this is the equivalent of the last-minute christmas shopping to protect assets of going over the fiscal cliff, planners and wealth managers say it's been a banner year especially for estate planning and here's a couple of reason yes. there's a big change coming with the gift tax. right now there's a $5 million exempted and the tax rate is 35%. on midnight on new year's eve the exemption drops to 1 million and the tax rate goes on 55% and the capital gains tax rate expected to increase from 15% to 20% and the brand new 3.8% medicare tax on wage earners above 200,000 a year and a possible future cap on general deductions is all part of that renewed interest and estate planning. among those closely watching what the president and top congressional leaders do over the weekend to avoid going over the cliff, millions of married couples facing a higher tax burden. the bush-era tax law which eliminated the so-called marriage penalty for joint filers is expiring, meaning with couples with nex
'll see prices go up in that environment. a lot of people are not willing to sell. they say the price of my home is still down big time. prices need to go up. >> home prices are in the eyes of the beholder, right? if you're still underwater, you need a dramatic increase in the price of your home in terms of percentages to get back to even. those people aren't going to feel like things are off the bottom. definitely i've seen here in new york city bidding wars on apartments. there have been improvements in some parts of the country. >> the market is percier. i still feel like a loser because of, kayla, what you were saying. i'm still down from where i was. >> you don't want to sell. >> right. anyhow, let's talk about chicago. i'll be there next week with the morning star mutual manager fund of the year. i'm going to find that chicago is going to have the most expensive parking meters in the country. $6.50 per hour down on the loop. four years ago most of the windy city's parking meters cost just 25 cents per hour. this is demand pricing, isn't it, michelle? >> i love it. you let prices
as you mentioned and the continuity that left those americans in beyond hostile environment, ultimately dead. answer that question you are asking yourself. why do you think repeated requests for additional security were not heeded? >> i believe that the answer to that question is political one. the administration wanted to sell the american people on a narrative that was false. that is, this was a victory for us in libya. everything is normal. there is no problem. we've got al-qaeda on the run. finally president obama himself had to take that line out of his stump speech because we didn't have al-qaeda on the run. they are clearly there all over the place. so the narrative was, libya is completely normal. if they spring the money for more security or if they send more assets over there, then it's an admission, maybe libya is not as successful that we want to tell the american people. that is why susan rice was rolled out there to five network shows to say this was a video, it was a spontaneous protest. as biden said malarkey in another context but it was not right to tell the american p
it for the environment. in part. elizabeth prann is live with more. tell us about the tree elves. can you call them this. >> reporter: we can, they are giving families one less thing to worry about this holiday season, these brothers are known as the kick of pop in the smerp months and sell popular frozen popcicles across atlanta and this southeast end and, now are delivering small, medium or large trees with or without lights and after that pick up the tree and donate them to parks, schools and churches and if you want to you can keep it. customers say it has been a weight lifted off their shoulders during the holiday season and it is eco-friendly, too. >> makes us feel good to support a local business such as the tree elves. rather than go and cut one down or go to home depot and purchase one like we have done in the past. we legislative the idea of supporting tree elves be a supporting king of pops, which we're a big fan of, getting a tree that is sustainable and will be replanted. >> reporter: they have 200 trees and sold out almost immediately and next year will have more trees and more varieties.
want to cook it in a moist environment so it doesn't dry out of the ham. >> you didn't put a ton in there? >> not a lot. a couple of o.j. the at the bottom. >> it's a little uneven. i apologize for this. >> this is easy. you don't have to be particular about it. i'm not a chef but a cook. 375 in the oven until it's 145 degrees internally. it takes about 45 minutes. here is the ham. >> i know it's incredibly good. make this today. >> really easy. when you take it out of the oven, tent it with aluminum foil while it rests for a minute. if you peel it off too soon, it will get dry on you. the next thing to do in the same oven, 37 5 degrees is my easy h roasted sweet potato mash. these are four pounds sweet t potatoes and two pounds of vidalia onions and some salt and permanen pepper. it troroasts for 45 minutes. put it in after you put the ham in. you drop everything in here. this is simple. it's just roasted red potatoes or sweet potatoes, excuse me, some onions and the olive oil and salt and pepper on top. then four tablespoons of butter. >> there's the key right there. there it i
in the street. and if they come here, it's a real nice environment for them. >> everybody get into the ring. we're going to have the rap session. >> this week i want to talk about unity. in this gym, we are a community. >> we not only do boxing, we do youth development. when you walk in the door, we're not only teaching you boxing, we're also teaching you that you know you have to go to school. we have three or four tutors that we're trying to get these kids' grades up. i used to have average like b, cs, now i get as and bs. >> we're going to have to put everything we've got into that one minute. >> i joined boxing to stay away from the streets and to get my life together. so it literally saved my life, boxing. i want these kids to go to college for the next generation will be more powerful in our life. we're more than just tough. we're also smart. >> i want to become a champion. and i want to show people that this neighborhood is not only about violence, that there's people in here in the neighborhood that are determined to become somebody in life. >> if i help two, three kids a year, that's a
's a very tough economic environment. gregg: you know, out in the shopping malls it's really being felt, and we measure that, right, with shopper track? >> yes. and shopper track is down from what they had forecast. they recently revised it lower, down about 25%. and, gregg, i think it's important to point out that stock prices on a lot of retailers and all companies, but especially redalers, moved -- retailers, moved up in anticipation of good sales. and as a result of the numbers not being very good, i think you're going to see the earnings estimates from analysts on wall street come down. so you might start to see that impact on the stock market as well. gregg: how much of this, ed, is fiscal cliff as opposed to just the aggregate of bad economic news? >> yeah. i don't think most people really understand the fiscal cliff. i think they're starting to get it just as molly had showed a couple minutes ago about how much more you're going to pay in taxes. i think it's a lot of confusion, and when people are confused, they really don't know what to do, and they don't see any silver lining
as possible. the longer this drags out, the more likely it is that the environment becomes more partisan, more toxic, and we don't put a sensible and gradual debt deal in place in time. so what i hope is that if they come up with this way to avert the tax increase for most american families, they also put in place some kind of process that keeps the discussions going. and really, they need to devote themselves to the discussions. january should not be put your head down and focus on ignoring the problem month. it should be bring the leaders back to washington and really have the talks start in earnest if they don't get this resolved in december which it appears clearly that they're not going to. >> okay. the debt ceiling, we're about to reach that limit next week as well. timothy geithner, the treasure secretariry saying he can keep the economy going for a couple of months. what are your hopes for that debt ceiling debate that no doubt is going to have to happen by what, february? >> the debt ceiling in the past has played an important role that is a speed bump when we are borrowing too quickl
credit is going to be available? >> pretty tight. credit is still tight. regulatory environment is still difficult. banks have got poor loan quality on overall basis of the businesses are looking at. business development corpse. there is microlending opportunities and crowd funding opportunities which is new basically angel investors with the fec has reduced some of their limitations for businesses to get funding. >> juliet: this seems like no brainer ecommerce is the way it is. cyber monday shows that. >> it's growing but still frankly at low levels. probably online sales are only about 7% of total sales. they estimate mobile commerce could be about a trillion in revenues in 2016, 2017. so ecommerce is growing significantly. there is is a loft businesses that are still not online and don't have an online presence. >> that makes no sense to me. a lot of businesses that don't know that they can go and create a simple web site to get online so you can jump on your mobile guess. if you are out looking for a pizza shop you are most likely looking for it on your mobile device. if you are not
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